WTC vs. WTO

World Trade Organization vs. World Trade Center

Worlds of Difference: Despite the similarity in names, the differences between the World Trade Organization (WTO) and a World Trade Center (WTC) are vast.

The World Trade Organization (WTO), headquartered in Geneva, Switzerland, is the international organization made up of government representatives from member countries that deals with the global regulations of trade between nations. Some of the functions of the WTO are to liberalize global trade and to provide a forum for governments to negotiate trade agreements and settle trade disputes. The WTO acts as a governing collective and decisions are made by the entire membership, typically by consensus. The WTO's members consist of over 140 countries and account for over 90% of world trade.

A World Trade Center (WTC) is an apolitical organization that holds the World Trade Center license for a particular economic region in any country. World Trade Centers provide a network of reciprocal services and supply businesses with access to international trade services and facilities. They seek to simplify and stimulate trade by bringing together the offices of government and business that serve and carry on trade. Although WTC's vary from country to country, they are all connected as a part of the World Trade Centers Association (WTCA). The WTCA has 330 members, like the World Trade Center Denver, in nearly 100 countries representing more than 1 million businesses.